Tether, the issuer of the USDT stablecoin, has recently received a significant addition to its Bitcoin reserves. After remaining dormant for nine months, 7,629 BTC, valued at $705.25 million, was transferred from Bitfinex to Tether’s Bitcoin reserves.
This transaction brings Tether’s total Bitcoin holdings to 82,983 BTC. These holdings were accumulated for a total cost of $2.99 billion, reflecting an average acquisition price of approximately $36,125 per Bitcoin. At current market rates, Tether’s Bitcoin reserves are valued at $7.68 billion.
Meanwhile, earlier today, MicroStrategy, a business intelligence company known for its significant Bitcoin investments, announced the addition of 2,138 BTC to its holdings.
The company purchased the Bitcoin for $209 million, equating to an average price of $97,837 per BTC. This acquisition brings MicroStrategy’s total Bitcoin holdings to 146,400 BTC, which were acquired at a combined cost of $27.9 billion.
As of now, MicroStrategy’s Bitcoin portfolio positions it as one of the largest institutional holders of the cryptocurrency. The company’s long-term strategy has involved accumulating Bitcoin as a core part of its treasury management.
